Topic: DECENTRALIZED OR CENTRALIZED? - page 5. (Read 3906 times)

We would say that the main advantages of centralized exchanges are:
1. Higher liquidity than decentralized exchanges
2. Often fiat-to-crypto trading opportunities, allowing new investors to enter the market
3. Recovery of forgotten passwords generally available.

Decentralized exchanges however, generally have the following advantages:
1. Spread out servers leading to lower risk of server downtime
2. Security (essentially immune to attacks)
3. Anonymous.

Do you think the advantages above for centralized exchanges outweighs the advantages above for decentralized exchanges?

The Top 5 most popular exchanges in our Cryptocurrency Exchange List are Changelly, Covesting.io, BitMEX, KuCoin and Crex24, and those are all centralized exchanges. The first decentralized exchange is Mercatox in place 11. This is at least an indicator that decentralized exchanges are not that commonly used yet, but maybe they will be in the future.

All the best,
Cryptowisser

I believe that there should be 90% decentralized systems. Because there are cases when centralized systems are also very useful to people. They can not just be excluded

In my opinion. currently more appropriate for a centralized system in our financial field. because the financial system still tends to be safer and if the system experiences hacking, the financial manager is able to be responsible. however, for the future, a centralized financial system is very useful for us because we can manage our own finances or assets, our data can be safe from the abuse of third parties.

all there are sides of weakness and goodness, if bitcoin becomes centralized. then it will function like fiat. and all controls are in the institutions that govern bitcoin. so users still have limitations in using. if bitcoin remains on its decentralization it will not be stable because the value of bitcoin is determined by the user itself. and there is no insurance for loss or theft. for me personally, I still choose bitcoin in its decentralization.

Everyone has his/her opinion which might be right. But , centralization isnt an option to make bitcoin genrally accepted. Regulation Would have been a better option. Decentralization is mean for freedom, self control. Centralization will remove this and return us to old banking system.

As far as Iknow bitcoin is designed to be decentralized that is what its uniqueness among others so that so there will be privacy and all that but to centralizedit is another thing, no matter what they like it to be that way is kind a hard to change becuase its already been created that way.

I think its better that the crypto is decentralized in which the government don't have a interaction with it so that the investors will not scared about investing in crypto.

After bitcoin becomes centralized, it might accepted by governments. But Why should we use that? What will be benefits of bitcoin? What will be difference of bitcoin with Visa and Mastercard?
If bitcoin becomes centralized, a bigger problem will appear. Because the main purpose of bitcoin won't be reached.

In my opinion, centralization of btc will also open up more opportunities. It can become a company like visa or mastercard or any other payment processor widely accepted around the world. At this point in time, many countries prohibit the use of bitcoin, so it is only available in a decentralized manner.

decentralized is the main feature of bitcoin, and if bitcoin become a centralized i think it okay as long the other features and the function of the bitcoin is not changing at all, i think bitcoin is still okay to use

I think that most people like btc because it is decentralized, however, it is not about me as i would prefer it to be centralized now. To my mind, crypto should be centralized as then we will do everything legally

Of course, I am for bitcoin to retain its main feature - the decentralization of the system. It's time for us to change the established, outdated global financial system and launch a new, independent mechanism, which is bitcoin.

Decentralised currencies such kind of currencies which has no control over governments and banking system...but centralised currency is controlled by governments and their banking systems. Bitcoin is a decentralised currencies.

bitcoin is not completely decentralized. As soon as it comes to dealing with the exchange.I generally think that there is no decentralization as such, and so on for a long time

its impossible for bitcoin to become centralized because it is already built to become decentalized but let say bitcoin is centralized , its function will worked differently like for example we can expect a more stable price , a more faster and inexpensive transaction/fees  , we can also expected to be taxed based on our holdings due to the fact that bitcoin is now controlled by a government organization .

lastly , bitcoin will now be used mainly as a currency and not by an asset tool . therfor i dont think that being centralized is a good idea to us  .

Bitcoin is naturally decentralized with peer to peer transaction system. If it is centralized, it would be better for the citizen of the world but the reality is that Bitcoin will be decentralized for the rest of times.

Both centralized and decentralized networks currently exist in popular platforms, both currency in the crypto community has been a debate. The benefits and drawbacks have been widely discussed and amongst coin enthusiasts.

There’s a new form of crypto emerging, a hybrid cryptocurrency. A hybrid cryptocurrency is one that takes the best parts of both centralized and decentralized currencies. 

decentralized is the main feature of bitcoin, and I think it is true when we use bitcoin and happy with the decentralized features. but if something happen and force bitcoin to become centralized I think it still okay right? the function of bitcoin is same right?

That's my concern. If Bitcoin becomes centralized, then it would be nothing more than just a banking system controlled by the likes of governments worldwide. The huge dominance of mining hashrate from Bitmain would kill Bitcoin's decentralization in the long term, as no other company would be able to compete with it in the production of efficient ASIC miners. Bitcoin has already been heading towards centralization this way, but most people don't seem to care if they're able to make money with it.

However, I believe that decentralization is one of the key aspects of blockchain technology, as it allows a cryptocurrency to remain immutable and resilient against 51% attacks. Perhaps, if Bitcoin devs would pay close attention towards the imminent threat of centralization within the Bitcoin network, then the cryptocurrency would be much more accessible to ordinary people just like it was in the good old days. A quick change in the PoW algorithm or a new mechanism that would prevent mining pools from emerging would be ideal, as it would allow Bitcoin to remain as decentralized as possible.

Therefore, if Bitcoin remains decentralized no matter what, it would pass the test as a truly immutable cryptocurrency free from government manipulation, corporate interests (Bitmain), and more. While there's no system that's 100% decentralized, it's best to preserve decentralization as much as possible. ASIC resistance might be the key to true decentralization, although the same scenario could happen with GPU mining where a single company controls most of the hashrate. Yet, it's best to balance between both PoW and PoS (hybrid model?) to allow the cryptocurrency to stay as decentralized as possible while maintaining unparalleled security. Just my thoughts

Decentralized is more best for whole world which gives the full freedom to any body by individually of any transaction at any time and any where in the world. Centralized has limitation for all user for transaction in the country not across the whole world.